IGR – Italian Gemological Review as early as in 2017 and again in 2019 has been reporting on Gübelin’s innovations such as the use of blockchain technology to track gems alongside the development of nanoparticles as revolutionary tracking markers. The concept of the prestigious Swiss institute for the inclusion of social and environmental issues within the jewelry industry shows to which extent technology and ethical responsibility are walking hand in hand.
To date, about four million gems and jewelry items have been uploaded to the blockchain and more than 500 professional users have signed up, including more than 120 jewelers and manufacturers.
The Paternity Test initially developed with emeralds is an excellent example of how much Gübelin is involved in ethical sourcing. This process uses nano technologies to trace emeralds starting from mined rough material.
Provenance Proof, the innovative start-up created by Gübelin, has now launched its own online marketplace dedicated to transparency and traceability.
This groundbreaking startup, in partnership with Everledger, which handles blockchain ledgers to secure data, will reportedly be able to benefit all private customers and retailers interested in approaching the sustainable trade. It will be actually possible to record the quality and beauty characteristics of the finished product alongside its ethical credentials. This will lead to a process of increased awareness which will positively affect the entire supply chain.
The online marketplace will add all trade transactions to the other data on the blockchain.
The online platform will serve as a communication platform for all parties involved in the production and distribution chain of the gems taken over. Provenance Proof has, however, at the same time made clear that it will not be involved in the marketing and trade nor will it take any profit from this phase.
